" Worse, when a page changes you'd have to
download a whole index again."
why?
if you download it from a server the server could check which
pages have changed and only send those to the text file
you definitely would not have to download the hole thing again
"without even containing the full text to search
through - is terabytes in size."
this may be a probelem it dosent make it impossible as you could go and buy a
4tb HDD
but i guess a solution could be dividing the web pages into
10mb or 20mb blocks
and when you want to visit a certain website you query the
server for that data it would still be anonymous
as it would be hundreds of thousands of websites
your searching though but you would not have to store a huge amount of data
but ideally we just wait until 8tb HDD's get cheap